Options sells property at a gain

382 views
1 min read

Options Cassoulides Plc (OPT) announced that its subsidiary I.G Cassoulides & Son Ltd
reached an agreement with Messrs. Anastasios Elias and Georgios Andreou (who already hold 50% of Marelia Development Ltd) for the sale of 50% of the share capital of Marelia Development Ltd against the sum of EUR600,000. The Company will realize a profit of EUR120,000 after the completion of the sale. Marelia Development Ltd is the owner of a small complex of flats composed of 11 one bedroom units and does not carry out any trading activity.